Techstars CEO David Cohen is Starting a $150 Million Venture Fund
Cohen is also an active angel investor who's backed early-stage Web and software companies such as DailyWorth, BrightNest, and Twilio. The new fund, called Bullet Time Ventures 2014, will be his third. Bullet Time Ventures II, his second fund, formed in 2011 and raised $28 million, according to Cohen's website, while his first fund, Bullet Time Ventures, raised less than $5 million after forming in 2009, according to business and technology website Xconomy.com.
According to the SEC filing, Cohen will be managing director of the fund along with Mark Solon, the founder and former manager of Boise, Idaho-based Highway 12 Ventures. Solon is now at Techstars, where he focuses on capital formation and investment strategy.
The fund, like Techstars, will be based in Boulder, which has quickly become a hotbed of startups that ranks among the country's 20 most productive metro areas in terms of GDP. Since 1960, Boulder has fostered nascent industries such as natural foods, computer storage, and Web services. It’s also the original home of herbal tea company Celestial Seasonings, Ball Aerospace (one of the first NASA contractors), and data-storage firm StorageTek.
Cohen hasn't returned Inc.’s request for comment. Solon declined to comment about the new venture.
JILL KRASNY | Staff Writer | Staff Writer
Jill Krasny is a staff writer for Inc. magazine, where she covers the intersection of entertainment and startups. Prior to Inc., she was a writer for MTV and Esquire and an editor at TheStreet. She is a graduate of the University of Southern California with a degree in communication. She lives in New York City.